FASTA Loans is a South African-based short-term loan provider that offers instant access to credit ranging from R800 to R8000. The loans are available online, easy to apply for, and fast to disburse. The company offers two types of loans: FASTACash and FASTACard. FASTACash is a short-term loan that is paid out in cash, while FASTACard is a virtual card that can be used to make purchases or withdraw cash at any ATM.
FASTA Loans has become a popular option for many South Africans who need quick access to credit. The application process is straightforward, and customers can complete it online in a matter of minutes. Once approved, the loan amount is disbursed immediately, either into the customer’s bank account or on a virtual card. The company offers competitive interest rates when compared to other card providers, making it an attractive option for those who need a short-term loan.
Overall, FASTA Loans is a reliable and convenient option for South Africans who need quick access to credit. With its easy application process, fast payout times, and competitive interest rates, it is no wonder that more and more people are turning to FASTA Loans for their short-term loan needs.
Key Takeaways
- FASTA Loans offers short-term loans ranging from R800 to R8000, which are disbursed immediately upon approval.
- The company offers two types of loans: FASTACash and FASTACard.
- The application process is straightforward, and the company offers competitive interest rates when compared to other card providers.
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Understanding Fasta Loans
FASTA loans are a type of short-term loan designed to provide immediate financial relief to individuals who need it. These loans are typically unsecured personal loans, meaning that no collateral is required to secure the loan. FASTA loans are aimed at addressing immediate financial gaps rather than long-term financial investments.
To qualify for a FASTA loan, individuals must meet certain criteria. These include being a South African citizen or permanent resident, being over the age of 18, having a valid South African ID, and having an active bank account. Additionally, individuals must have a regular source of income and must not be under debt review or administration.
FASTA loans can be applied for online, making the application process quick and easy. Once an application has been submitted, it will be assessed by FASTA’s team of financial experts. If the loan is approved, the funds will be deposited directly into the borrower’s bank account.
One of the benefits of FASTA loans is that they offer flexible repayment terms. Borrowers can choose to repay the loan over a period of up to 6 months, depending on their individual financial situation. Additionally, FASTA loans offer competitive interest rates, making them an affordable option for individuals in need of short-term financial assistance.
To access their account, borrowers can use the FASTA loan login portal on the company’s website. This portal allows borrowers to view their loan details, make payments, and manage their account information.
Overall, FASTA loans are a convenient and accessible option for individuals in need of short-term financial assistance. With flexible repayment terms and competitive interest rates, these loans can help individuals bridge the gap between paychecks and cover unexpected expenses.
Application and Payout Process
Applying for a Fasta loan is a straightforward process that can be done online. Once the application is submitted, Fasta will review the application and provide a decision within minutes. If approved, the loan amount will be disbursed directly to the borrower’s bank account.
Loan Disbursement Timeline
The time it takes for the loan to be disbursed can vary depending on the borrower’s bank and the time of day the loan is approved. However, Fasta aims to disburse funds within 24 hours of approval. In some cases, borrowers may receive the funds on the same day as approval.
Alternative Loan Options
Fasta is not the only lender that offers fast loans. Borrowers who are looking for alternative loan options may consider lenders such as Wonga, Capfin, and Capitec. These lenders also offer quick loan disbursement times and competitive interest rates.
It is important to note that each lender has its own eligibility criteria and loan terms. Borrowers should compare loan options and read the terms and conditions carefully before applying for a loan.
Overall, Fasta offers a fast and convenient loan application process with quick loan disbursement times. Borrowers who are looking for alternative loan options should consider lenders such as Wonga, Capfin, and Capitec.
Communication and Support
Fasta Loans offers various ways to contact their customer support team. They are available to answer any questions or concerns borrowers may have about their loans.
Contact Information
Borrowers can contact Fasta Loans through email at [email protected]. Unfortunately, there is no official number available for borrowers to call. However, borrowers can visit Fasta Loans in person at Spaces, Dock Road Junction, Cnr Stanley & Dock Road, V&A Waterfront, Cape Town, 8001.
It is important to note that Fasta Loans does not have a live chat feature on their website. Borrowers may have to wait for a response through email or in-person visit.
Overall, Fasta Loans’ communication and support options are limited. Borrowers who prefer to have a direct phone conversation with their lender may need to consider other loan options.
Customer Feedback
Loan Reviews
When it comes to reviews of Fasta Loans, opinions are mixed. Some customers praise the company for its fast and easy application process, while others complain about high interest rates and poor customer service. However, it’s worth noting that many of the negative reviews are from customers who did not qualify for a loan or were unable to repay it on time.
One positive aspect of Fasta Loans that many customers appreciate is the flexibility of the repayment terms. Borrowers can choose to repay the loan over a period of up to three months, which can make it easier to manage their finances. Additionally, the loan application process is automated, which means that customers can apply for a loan at any time of the day or night.
On the other hand, some customers have complained about high interest rates and hidden fees. While Fasta Loans advertises a low interest rate of 3%, some customers have reported being charged significantly more than that. Additionally, some customers have reported being charged fees for late payments or other issues.
Loan Complaints
While Fasta Loans has many satisfied customers, there are also some who have had negative experiences with the company. Some of the most common complaints include difficulty getting approved for a loan, high interest rates, and poor customer service.
One issue that some customers have reported is that they were unable to get approved for a loan, even though they met all of the eligibility requirements. This can be frustrating for borrowers who need money quickly and don’t have time to wait for a loan approval.
Another common complaint is that Fasta Loans charges high interest rates. While the company advertises a low interest rate of 3%, some customers have reported being charged much more than that. This can make it difficult for borrowers to repay their loans on time and can lead to additional fees and charges.
Finally, some customers have reported poor customer service from Fasta Loans. This can include difficulty getting in touch with customer service representatives, long wait times on the phone, and unhelpful responses to inquiries. While Fasta Loans does offer an automated application process, some customers may prefer to speak with a live representative to address any issues or concerns they may have.
Frequently Asked Questions
How long does it take for FASTA loans to pay out?
FASTA loans are known for their quick and efficient processing time. Once a loan application is approved, the funds are usually disbursed within 24 hours. However, the exact time it takes for the funds to reflect in the borrower’s account may vary depending on the bank’s processing time.
What are the requirements to apply for a FASTA loan?
To apply for a FASTA loan, borrowers must meet certain eligibility criteria such as being a Nigerian citizen or permanent resident, having a steady source of income, and possessing a valid bank account. Additionally, borrowers must provide valid identification documents, proof of income, and other relevant documents as required by FASTA.
Are there any complaints or negative reviews about FASTA loans?
While FASTA loans have received positive reviews from many customers, there have been some complaints and negative reviews about the company’s high interest rates and hidden charges. However, FASTA has taken steps to address these concerns and improve their services.
What is the email address for FASTA loans?
The email address for FASTA loans is support@fasta.ng. Customers can also reach out to the company’s customer support team via phone or live chat on the official FASTA website.
What is a FASTA account and how does it work?
A FASTA account is a digital wallet that allows customers to manage their funds and make transactions easily. With a FASTA account, customers can receive loans, pay bills, and make purchases online or in-store. Customers can also earn rewards and cashback on transactions made using their FASTA account.
Are there any other loan options similar to FASTA loans?
Yes, there are other loan options similar to FASTA loans. Some of the popular loan options in Nigeria include Renmoney, Page Financials, and KiaKia. However, customers are advised to compare the interest rates, fees, and repayment terms of different lenders before choosing a loan option that suits their needs.